Whirlpool Co. (WHR) Announces Dividend Increase – $1.20 Per Share

Whirlpool Co. (NYSE:WHR) announced a quarterly dividend on Monday, April 15th, RTT News reports. Shareholders of record on Friday, May 17th will be given a dividend of 1.20 per share on Saturday, June 15th. This represents a $4.80 dividend on an annualized basis and a yield of 3.52%. This is an increase from Whirlpool’s previous quarterly dividend of $1.15.

Whirlpool has raised its dividend payment by an average of 9.7% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Whirlpool has a payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Whirlpool to earn $16.70 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 27.5%.

NYSE:WHR traded down $3.51 during trading hours on Monday, reaching $136.37. The stock had a trading volume of 1,112,312 shares, compared to its average volume of 886,133. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.82 and a quick ratio of 0.55. Whirlpool has a 52 week low of $99.40 and a 52 week high of $167.54. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.98 and a beta of 1.61.

Whirlpool (NYSE:WHR) last released its quarterly earnings data on Monday, January 28th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.30 by $0.45. Whirlpool had a positive return on equity of 27.24% and a negative net margin of 0.87%. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the company posted $4.10 EPS. The company’s revenue was down .7% compared to the same quarter last year. As a group, analysts anticipate that Whirlpool will post 14.66 EPS for the current year.

A number of research firms have issued reports on WHR. Zacks Investment Research raised Whirlpool from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Raymond James reaffirmed a “hold” rating on shares of Whirlpool in a research note on Monday, March 18th. Royal Bank of Canada downgraded Whirlpool from a “sector perform” rating to an “underperform” rating and set a $134.60 price objective on the stock. in a research note on Wednesday, January 30th. Finally, Buckingham Research began coverage on Whirlpool in a research note on Wednesday, January 23rd. They issued a “neutral” rating and a $135.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $144.08.

In other news, Director Michael F. Johnston sold 2,845 shares of Whirlpool stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $133.54, for a total value of $379,921.30. Following the completion of the transaction, the director now owns 6,550 shares in the company, valued at approximately $874,687. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is currently owned by insiders.

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About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products. It operates through four segments: North America; Europe, Middle East and Africa; Latin America; and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances and related laundry accessories; cooking appliances and other small domestic appliances; and dishwasher appliances and related accessories.

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Dividend History for Whirlpool (NYSE:WHR)

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